JAKARTA – The rupiah weakens further against the US dollar, breaking past the 17,600 level in early trading and signaling continued pressure on Indonesia’s currency amid global uncertainty.
At the market opening on Wednesday at 09:00 WIB, the rupiah fell 0.36% to 17,618 per US dollar. The currency continued to slide during the morning session, reaching as low as 17,660 per dollar by 09:13 WIB.
In offshore markets, the rupiah’s non-deliverable forwards (NDF) remained relatively stable at around 17,629 per dollar. However, the overall trend still reflects persistent weakness in the currency.
The US dollar index, which tracks the greenback against six major currencies, strengthened to 99.38. This gain has limited the movement of regional currencies, including the rupiah, as global investors shift toward safer assets.
Market analysts point to several external factors influencing the rupiah’s performance. These include upcoming policy decisions from major central banks, global inflation data, and ongoing geopolitical tensions—all of which are shaping capital flows into emerging markets.
Domestically, investors are closely watching Indonesia’s external debt figures and the Bank Indonesia benchmark interest rate decision scheduled for this week. These indicators are expected to provide clearer direction for the rupiah in the near term.
The combination of global and domestic pressures suggests that the rupiah may remain volatile, with further movements largely dependent on external sentiment and monetary policy developments.